Market Tanks On News Of German Bans On Naked Shorting?
Wow sell sell sell… Why? Because Germany introduced a ban on naked short selling?
Germany will ban so-called naked short-selling from midnight, a lawmaker with the ruling Christian Democratic Union told Dow Jones Newswires. He added that Chancellor Angela Merkel will announce the plan in her speech to the lower house of parliament Wednesday morning.
Naked short selling—which differs from short selling in that the sold shares aren’t borrowed in advance—came under fire at the height of Greece’s struggle to refinance its debt, with many euro-zone governments saying such transactions in credit-default swaps, a type of default insurance, artificially inflated Greek funding costs.
Wow, Is naked short selling legal in the US?
Its not legal?
So Germany is introducing legislation on par with the US?
YEAH that’s REAL logical!!!
Or could it be something else? Could be that bears are trying to scare the market?
You decide… Logical or not?
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Isn’t naked short selling already supposed to be illegal? Yes. If you don’t borrow shares, and you have no intentions on buying them back, then it is illegal. Naked short selling is used by many hedge funds and off shore entities to destroy stocks by taking away their ability to raise capital and create a stable stock price environement. I use MicroCapReports to find which stocks are safe from massive dilutioin scams, because those often work hand in hand with NSS
Really no kidding Bernard? I completely agree with you. I have no problem with shorters just those that want to destroy companies at no risk.
I am being cynical because it shows you how much the stock market is bent to destroy the Euro zone.
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